ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Jun 20 15:29

Tyler Durden's picture Meanwhile, Greece Is Quietly Printing Billions Of Euros

During the same period over which Greek banks lost nearly €30 billion in deposits, banknotes in circulation jumped by some €13 billion. In short, because Greeks are increasingly prone to stuffing their euros in mattresses, a large proportion of the deposit flight has come in the form of hard currency withdrawals, meaning the Bank of Greece is forced to (literally) print billions in physical banknotes.

Jun 20 15:28

"The Collateral Has Run Out" - JPM Warns ECB Will Use Greek "Nuclear Option" If No Monday Deal

"If no agreement is reached on Monday, then the ECB will have little reason to show further flexibility and it will likely freeze its ELA limit on Greek banks. As a result capital controls will become almost inevitable after Monday."

Jun 20 15:22

Anti-austerity protest: This is just the start of our campaign, say marchers

Cries to end austerity echoed through the streets of central London as a reported 250,000 people campaigned against a new wave of government spending cuts.

Protesters gathered outside the Bank of England before marching to Parliament Square in one of the biggest anti-austerity events in recent years, and the first major protest since the new Government was formed.

A spokesman from the People’s Assembly, which organised the march, said: “Today is not the end of our campaign against austerity but the start of a mass movement prepared to take on this Government.”

Jun 20 15:08

Putin: €2bn Russia-Greece gas deal will help Athens pay its debt

A deal to jointly build an extension of the Turkish Stream gas pipeline across Greece will help Athens to settle its multibillion euro debt to international creditors, President Vladimir Putin said at the St. Petersburg International Economic Forum.

Talking to the representatives of international media at the Forum, Putin said he didn’t see any support for Greece from the EU, RIA Novosti reports.

“If the EU wants Greece to pay its debt than it should be interested in the Greek economy growing,” Putin said. “The EU should be applauding us. What’s bad about creating new jobs in Greece?” he said, commenting on Russia’s preliminary gas deal with Greece.

Jun 20 14:55

DIY Healthcare: A New Kind of Insurance

By Brian Berletic

Health insurance is a financial scheme devised to help individuals cope with otherwise impossible-to-pay medical bills. By large numbers of people paying monthly premiums (or taxes) to a centralized insurance or healthcare provider, the smaller number of those who actually need expensive coverage can be accommodated.

But this is mainly because healthcare is so expensive in the first place. For now, it is the best we have, but what if healthcare wasn't so expensive in the first place? What if it was as affordable as food or other regular consumer products? How could healthcare become as affordable as food or regular consumer products?...

Jun 20 13:56

How to Play the Next Commodities Bull Market

Jun 20 13:02

Dow Divergences Reaching Historic Levels

Jun 20 12:27

Tsipras spoke with Putin hour and a half and came out happy and smiling

Webmaster's Commentary: 

"How DARE Putin free our debt-slaves! Doesn't he know how long and hard we worked to make them debt-slaves in the first place? THIS MEANS WAR!!!!" -- Official White Horse Souse

Jun 20 12:25

European Central Bank extends credit on fears of Greek bank collapse

The European Central Bank (ECB) intervened again Friday to prop up Greece’s banks, as savers, fearing their imminent collapse, withdrew record amounts of deposits.

Following the collapse of talks between Greece and its creditors—the European Union (EU), the ECB and the International Monetary Fund (IMF)—over the terms of a further spending cuts programme, billions of euros in deposits were withdrawn from Greek banks. This week alone €4.2 billion were withdrawn, including €1.2 billion on Friday.

Jun 20 12:20

Nomi Prins, Keynote Speaker Who Addressed The Fed, IMF And World Bank, Warns There Is No Saving This Global Financial System

Today Nomi Prins, who was the keynote speaker that just addressed the Federal Reserve, IMF and the World Bank warned King World News that there is no saving this global financial system in the second of a series of powerful interviews that have now been released.

Webmaster's Commentary: 

Jun 20 10:42

US Dollar forming a bubble?

Jun 20 10:23

‘Fatally flawed’ Bank of England stress tests peddle myth of financial security – report

Bank of England (BoE) stress tests of Britain’s banking sector are “fatally flawed” and peddle the myth that the financial system is secure, a report by the Adam Smith Institute says.

The report, published Thursday, was authored by Professor of Finance and Economics at Durham University Kevin Dowd. It calls for the yearly tests to be scrapped and warns that they hide serious weaknesses in a vulnerable UK banking system.

Jun 20 10:13

The 7 Year Cycle & THREE DIGIT SILVER in 2016

Jun 20 09:36

Reasons behind homebuilder optimism

Jun 20 09:08

S&P 500 quarterly buybacks as % of market cap

Jun 20 08:04

Charlotte Church and Russell Brand join protesters at End Austerity Now rally in London

An estimated 250,000 marched from the Bank of England to the Houses of Parliament to protest against Tory Government cuts.

Jun 20 07:52

Signs Of Financial Turmoil In Europe, China And The United States

As we move toward the second half of 2015, signs of financial turmoil are appearing all over the globe. In Greece, a full blown bank run is happening right now. Approximately 2 billion euros were pulled out of Greek banks in just the past three days, Barclays says that capital controls are “imminent” unless a debt deal is struck, and there are reports that preparations are being made for a “bank holiday” in Greece.

Jun 20 07:37

British banks slash exposure to Greece amid fears the country is heading for bankruptcy and eurozone expulsion

Figures from the Bank of England showed the UK lenders, pension funds and other financial firms had £2billion tied up in the crisis torn nation at the end of March. That was the smallest amount since records began in 2004 and down from £9.6billion a year earlier and a peak of £12.4billion in March 2008.

Jun 20 06:44

China's stock market is about to collapse

Jun 20 04:03

EU losses from anti-Russia sanctions estimated at €100 bln — Die Welt

The sanctions imposed by the European Union against Russia over its stance on the Ukraine crisis and Moscow’s countermeasures will cost Europe €100 billion and endanger over 2 million jobs, influential German daily Die Welt reported on Friday.

Jun 20 03:43

IMF 'Trained' Greek journalists in DC to promote its position in media

Greece's former representative to the International Monetary Fund (IMF) said that Greek journalists were "trained" to promote the policies the IMF and the European Commission had toward the country's debt.

Jun 20 03:09

Currency Crisis: How Much Longer Until it Hits the US?

A currency crisis is coming to the US and it’s only a matter of when, not if. Many have been warning about it for years, from politician Ron Paul to economist Peter Schiff to many other voices in the alternative media. It’s a mathematical certainty, and a question of when, not if. Recent events, within the US and abroad, are beginning to indicate that it’s going to happen sooner rather than later. No one knows exactly when; there are way more predictions that don’t come true than those that do. However, making an accurate prediction of the exact date when the currency crisis hits is not as important as getting spiritually, mentally, financially and physically prepared for it.

Jun 20 03:00

UK Readies for Massive Protest Against 'Austerity on Steroids'

A massive and growing anti-austerity movement will take to the streets of London on Saturday, June 20, with demonstrators demanding "an alternative to austerity and to policies that only benefit those at the top."

Jun 19 22:36

Global Trend Forecaster Gerald Celente On $20,000 Gold: “Here’s What We’re Forecasting…”

In his latest interview Celente sheds more light on a recent report that China is preparing for something very big by hedging its bets against the real possibility of a global currency crisis stemming from a collapse in the U.S. dollar.

Jun 19 20:54

Ron Paul: Stock market ‘day of reckoning’ is near

Despite record highs in the market, former Rep. Ron Paul says the Fed’s easy money policies have left stocks and bonds are on the verge of a massive collapse.

Jun 19 18:02

We can pay £7bn to fix parliament, or much less to an arsonist. You choose

First, let us just absorb the fact that the quote for restoration of the Palace of Westminster was pegged at £3bn in March. “A not inconsequential sum of public money,” declared Speaker Bercow, with the worldly air of a man who knows you could get a short war for that and still have change for a duck house. An official report now concludes that up to £7bn could be required. If my experience of commissioning building work is any guide – and I struggle to see how it isn’t – this estimate will rocket into double figures the second a workman breaks ground on his first cup of tea.

Jun 19 15:19

Greek Bank Run Accelerating; Is It “Game Over” Soon?

When the money dries up, it’s “Game Over.” And that’s what Greece is facing now that bank runs are accelerating rapidly!

Consumer and business depositors have reportedly yanked 1.85 billion euros from the Greek banking system in just the last two days. That’s more than 115 million euros PER HOUR, assuming two eight-business-hour days.

More than 2% of all the private money held in Greek banks has now vanished in just the last week. The only thing standing between banks and insolvency is the European Central Bank, which is providing them with emergency liquidity assistance (ELA) since they can’t raise money in the private capital markets.

Jun 19 14:54

Solar Energy is Driving China’s Voracious Demand for Silver (800 M oz!)

Jeff Brown presents us with some stunning statistics regarding the amount of silver required by China to meet its 5-yr plan to install 100 gigawatts of solar (by 2020).

It takes 236 metric tonnes of silver per gigawatt of solar energy. This translates into 8.3 million ounces per gigawatt of solar energy output. If China installs 100 gigawatts in the next 5 years, this will require 26,300 metric tonnes, which is 731.6 million ounces of silver.

“It looks like China is trying to get its hands on all the silver it can find.”

Jun 19 14:29

World: Real potential growth

Jun 19 14:03

Extreme poverty can be eliminated, but conflicts are the problem – UNDP Administrator

The UN agreed to a series of Millennium Development Goals at the turn of the century, aiming to make the world a better place. And while great strides have been made in areas such as poverty reduction and access to clean water, much remains to be done. How can we ensure the world continues to develop substantially, and how much of a role can women have in driving that development? Oksana is joined by Helen Clark, the Administrator of the United Nations Development Program, to debate these issues.

Jun 19 14:03

5 Things To Ponder: Shades Or Umbrella

Jun 19 13:44

IMF Humiliates Greece, Repeats It Will Keep Funding Ukraine Even If It Defaults

One week ago, we were stunned to learn just how low the political organization that is the mostly US-taxpayer funded IMF has stooped when, a day after its negotiators demonstratively stormed out of the Greek negotiations with "creditors", Hermes' ambassador-at-large Christone Lagarde said that the IMF "could lend to Ukraine even if Ukraine determines it cannot service its debt."

Webmaster's Commentary: 

Talk about adding insult to injury with Greece.

but the IMF wants to put Ukraine squarely in the European sphere of influence, and wants the breakaway republics "neutralized" (more on that in an earlier post), because that's where the heart of manufacturing exists in Ukraine.

Jun 19 13:13

Banksters’ Trojan Horse for Greece & EU

The conflict over Greek debt is portrayed as one between fiscally responsible & fiscally irresponsible nations.

Jun 19 13:13

The Bulls Are Down, But Not Out

Jun 19 12:56

FEMA denies disaster aid for Baltimore riot

Jun 19 12:22

The Public Sector Is A Milk Cow For Private Enterprise — Paul Craig Roberts

Social Security and Medicare are under attack from Wall Street, conservatives, and free market economists. The claims are that these programs are unaffordable and that the programs can be run more efficiently and at less cost if privatized.

The programs are disparaged as “entitlements.” The word has come to imply that entitled people are getting something at great cost to everyone else. Indeed, entitlements have become conflated with welfare.

Jun 19 11:24

Russia Could Come to Greece’s Rescue. That’s Bad News for the United States and NATO.

Webmaster's Commentary: 

A Russian rescue of the Greek economy, offering far better terms than the ECB would offer, would be an ironic twist to the coming "Grexit", and definitely swing Greece deeply into the Russian sphere of influence.

Unfortunately, however, the ECB has done this to itself, and of course there can be no backsliding to the horrific austerity into which it has put Greece, because then all the other nations indebted to the ECB will ask for better terms as well.

Jun 19 11:17

Russia Continues To Dump Dollars And Buy Gold

The enormous effort by eastern hemisphere countries to diversify their reserves out of the dollar and into physical gold is quite remarkable. The latest reports out of Russia show that is has cut its dollar exposure in half since January 2014 and appears to be accelerating its accumulation of gold:

Webmaster's Commentary: 

Putin's explanation to the US is, "Everyone is doing it!"

Sadly, he is correct!

Jun 19 10:56

Red Light Ticket Cam official pleads guilty to bribing elected officials in Columbus OH, including council president Andy Ginther

Karen L. Finley, guilty to bribing Columbus elected officials through the Ohio Democratic Party

Columbus OH still really wants Red Light Cameras

Like some other Ohio cities, Columbus has sued the state to bring back the cameras
(State Reps have been battling these local blood sucking parasites)

Jun 19 10:38

Delayed Again: Rate Hike 2015?

Jun 19 08:48

Greece, EU and Banks Staring Into Abyss

Jun 19 08:08

EU extends trade and investment ban on Crimea

EU governments extended for a year a ban on trade and investment with Crimea on Friday, meaning European help for Russian Black Sea oil and gas exploration and visits by European cruise ships will remain outlawed.

The measures were adopted following Russia's annexation of Ukraine's Crimea region in March last year and reinforce the EU's policy of not recognizing the annexation.

Webmaster's Commentary: 

One more time, and this time I will go ... real ... slow ... for the dim-witted people hired to write for the corporate media; Russia did not annex Crimea. Following the US-backed overthrow of the government of Ukraine in January 2014, Crimea VOTED to secede, as they did not want to live under a US puppet ruler (given the long and tragic history of other nations struggling under such US Juntas). Crimea had the legal right to do so under the United Nations Universal Declaration of Human Rights, which grants all people the right to self-determination. Crimea then held a second election, and voted to merge with Russia. Crimea made that request and Russia accepted.

Now, we all know the presstitutes and whorespondents of the corporate media are paid liars. Following the collapse of the Sunday Times story that Russia and China had decoded Edward Snowden's files, placing intelligence assets at risk (the files were destroyed before Snowden went to Russia) one of the authors of the Sunday Times piece ducked the blame for the deception by claiming in a CNN interview that he just wrote what the government told him to write, so it wasn;t like he himself did a bad thing!

So, to all the presstitutes and whorespondents of the corporate media (and I know some of you read this web page); I know you are hired and paid to be mindless government stooges, but let's not abuse the policy!

Jun 19 07:55

Moscow will respond in kind to seizure of its assets abroad - FM Lavrov

Moscow will take reciprocal action in response to the seizure of its foreign assets, Foreign Minister Sergey Lavrov has warned.

“Our response would be in kind. This is inevitable. This is the only way of acting in international affairs,” he told RBK-TV in an intervew.

Jun 19 07:36

Russia ‘ready to consider bailing out Greece’

‘Russia says it is ready to consider offering loans to debt-stricken Greece, which is struggling to secure financial aid from its Western creditors.

Jun 19 07:33

Revealed: How MPs spend hundreds of thousands of pounds of YOUR money on jollies to little-known summits in glamour hotspots around the world

MPs and peers are lavishing hundreds of thousands of pounds a year attending little-known summits in glamorous locations across the world, figures released under freedom of information have revealed.

Politicians from all parties have run up huge bills attending 'parliamentary assemblies' for organisations including the Council of Europe and Nato held in locations such as New York, Helsinki, Vienna, Madrid, Paris and Brussels.

Jun 19 07:27

'The beginning of the end of the eurozone': Greek PM predicts his nation's 'Grexit' will cause the COLLAPSE of Europe's currency

A Greek exit from the eurozone would trigger the collapse of the single currency, Prime Minister Alexis Tsipras warned today.

His comments come after an emergency meeting of leaders was called for Monday – in a last-ditch effort to stop Greece crashing out of the euro.

'The famous Grexit cannot be an option either for the Greeks or the European Union,' he said in an Austrian newspaper interview.

'This would be an irreversible step, it would be the beginning of the end of the eurozone.'

Jun 19 07:27

EU shouldn’t view itself as ‘hub of universe’ – Greek PM

Europe shouldn’t view itself as a “hub of the universe” and it has to understand that the center of world economic development is shifting to other regions, said Greek Prime Minister Alexis Tsipras, speaking at St. Petersburg International Economic Forum.

“The world differs from what it was before. We in Europe had an illusion for a long time of literally being a hub of the universe, as a center of the world and continued to see and rely only on our direct surroundings," he said.

In the meantime, Tsipras added the economic center of the planet “has already shifted” as new powers are playing a more and more “important role on an economic and geopolitical level.”

Jun 19 07:19

Greece crisis: Tsipras meets Putin, says Greece's problem is Europe's problem

The Greek prime minister Alexis Tsipras has used a visit to Russia to make an impassioned speech against austerity, saying that austerity measures will not resolve the crisis.

The speech followed an address by the Russian President Vladimir Putin at the St. Petersburg International Economic Forum. Tsipras urged the European Union to follow its own path.

"The problem we are facing is deeply rooted in the process I have described. The EU should pursue its own path. The EU should go back to its initial principals of solidarity and social justice. Ensuring strict economic measures will lead us nowhere. The so-called problem of Greece is the problem of the whole European Union," he said, according to the Guardian.

Jun 19 07:17

ECB raises emergency liquidity for Greek banks - source

The European Central Bank has raised the level of emergency funding for Greek banks by an unspecified amount following a request from the Bank of Greece, a Greek bank source said.

"There was no problem with the financing of Greek banks," the source said, adding that bank governors were expecting a "positive result" at an emergency euro zone leaders summit on Greece on Monday.

According to state agency ANA, the funding cap was increased by €3.3 billion.

Jun 19 07:01

Anti-Russian sanctions hurt Europe harder than expected, threaten 2.5mn jobs – study

The sanctions imposed by the EU against Russia and Moscow's retaliation would cost Europeans 100 billion euros in economic development and jeopardize up to 2.5 million jobs, a new study said.

Webmaster's Commentary: 

"Well, then, let's do more of the same thing! We'll prove to those Russians we can smack our own thumbs with a hammer as long as it takes until they see things OUR way!" -- Official White Horse Souse

Jun 19 07:00

Greek journalists were 'coached' by IMF to report with pro-austerity bias – ex-envoy

The Greek authorities want to investigate alleged misconduct by a number of journalists who attended seminars organized by the IMF and were allegedly instructed to promote the organization's advice to Greece.

The accusations were voiced by Greece’s former representative to the International Monetary Fund Panagiotis Roumeliotis, who testified Tuesday in front of a special parliamentary committee on the country’s debt. Newspaper Proto Thema published excerpts from the testimony on its website.

Roumeliotis was cited as saying that he accidentally bumped into Greek journalists during a visit to Washington DC, who told him that they were attending a seminar organized by the IMF. The fund held a number of similar events in the US and in Greece with the goal of explaining its operations and apparently was spinning its work positively, he said.

Webmaster's Commentary: 

Now you know why we call the corporate media "presstitutes" and "whorespondants!"

Jun 19 06:28

EXPOSED Rand Paul's Call for a Value Added Tax (In addition to a Flat Personal Income Tax)

Much focus has been put on Rand Paul's call yesterday for a 14.5% flat personal income tax. The reporting often stops there, As in: The tax would be 14.5% across the board flat personal income tax, down from as much as 40%, but there is much more to the story, In addition, to the flat personal income tax, Rand, in his WSJ op-ed that revealed his plan, also called for a value added tax on top of the flat personal tax.
Josh Barro at NYT explains: In an op-ed in today’s Wall Street Journal, Senator Rand Paul announced his tax plan. While Herman Cain had his 9-9-9 plan, you can think of Mr. Paul’s approach as the 14.5-14.5 plan: He would replace all of toay’s federal taxes with a 14.5 percent flat personal income tax and a 14.5 percent value-added tax

Jun 18 21:51

Audit Committee: Greece’s Debt ‘Illegal, Illegitimate and Odious’

The debt imposed on Greece and its residents by creditors directly infringes the human rights of Greeks and is “illegal, illegitimate and odious,” according to the preliminary report issued on Wednesday by the Audit Committee on Public Debt.

Jun 18 21:06

Deposit withdrawals surge at Greek banks as debt noose tightens

The 2 billion euros taken out between Monday and Wednesday represent about 1.5 percent of total household and corporate deposits of 133.6 billion euros held by Greek banks as of end-April. Prior to this week, withdrawals had been running at 200-300 million euros a day.

Jun 18 21:04

Greek banks could be shut within days as citizens rush to withdraw money: Two billion euros taken out in three days as fears grow country will leave eurozone

Greek banks could be unable to open next week as the country’s citizens rush to withdraw cash, European Central Bank officials said last night.

Worried Greeks took out around 2billion euros (£1.4billion) from accounts between Monday and Wednesday, amid fears that the country will soon have to leave the eurozone.

Yesterday’s warning is likely to accelerate the process – leading to a run on the banks this morning.

Jun 18 18:11

Swelling State Debt and “Pension Tidal Wave” May Engulf Economy

Corrupt money management, socialism and Wall Street gambling have us all in a heap of trouble.

Over time, elected officials came to promise workers politically popular new benefits without setting aside the money to pay for them, declared “holidays” from contributions into pension systems and changed their own accounting systems midstream to make the systems seem better funded

Read more at SHTFplan.com

Jun 18 17:58

Major Investors Prepare for Stocks to Plummet

Jun 18 17:48

Top Economist Predicts Crash After October

Jun 18 17:03

Rate cut done deal, experts say

A second interest rate cut by the Reserve Bank next month is now a done deal, economists believe, and a third is increasingly on the cards before the year is out, after the economy recorded its weakest quarterly growth for two years.

Gross domestic product grew 0.2 per cent in the March quarter, when the market consensus and central bank expected 0.6 per cent. Annual average growth slowed to 3.2 per cent from 3.3 per cent in December.

With population growth running strong, underpinned by net immigration, aggregate measures of GDP paint a more flattering picture than per capita ones. Output per capita shrank 0.4 per cent in the March quarter and grew 1.5 per cent on an annual average basis, steady on its pace during the three previous years.

Read also:
• Deficit up to $8.6b and dairy slip yet to hit
• Why Janet Yellen sounds more like a hawk

Jun 18 15:26

JS Kim: Unsound Money is the Root of All Evil

Jun 18 15:20

Wall Street’s legal offensive

Recent months have seen a series of court rulings reversing penalties imposed on Wall Street in the aftermath of the 2008 financial crash and eviscerating previously existing financial regulations.

On April 3, a US appeals court upheld a December ruling overturning the conviction of two hedge fund executives on insider trading charges. The ruling laid down a novel and narrow definition of insider trading intended to make it virtually impossible to obtain convictions against people who use inside information to rig markets for their own gain.

Jun 18 15:19

Elite Financier George Soros Warns Of World War III: “Not An Exaggeration”

Until then, we may expect a continuation of hybrid warfare and the proliferation of proxy wars. As the world economy imploded in 2008 global financier George Soros worked feverishly on a book about the crash in which he detailed the specific actions that needed to be taken by governments and banking institutions to prevent a complete global meltdown. From bailouts to energy price hikes, his recommendations came to pass, almost exactly as he described them in The Crash of 2008 and What It Means.

Jun 18 14:43

The Fed is Now Officially in VERY Serious Trouble

In the simplest of terms, for the Fed not to be raising rates is not interesting. What IS interesting is WHY the Fed is not raising rates.

Of course there are many reasons why: the economy is not strong enough to handle it, the Fed missed its chance to raise rates in 2011-2012, etc.

However, there is only one REAL reason why rates remain so low:

Actually it’s $555 trillion reason: and they are derivatives based on interest rates.

Jun 18 14:36

WSJ: World's most expensive cities

Jun 18 14:30

US Prepared to 'Increase Costs' on Russia With Further Sanctions

Director of the US Treasury’s Office of Foreign Assets Control John Smith says that the United States is prepared to heighten economic pressure on Russia if conditions in Ukraine continue to deteriorate.

Webmaster's Commentary: 

The Russian sanctions have caused more harm to Europe, South America, Canada, and the US, than to Russia, so by all MEANS let us do more of the same thing!!!!!

Jun 18 14:20

Tsipras to meet Putin over bailout loan as fears of Greek exit from EU mount

Alexis Tsipras will travel to Russia again on Friday to meet Vladimir Putin as questions swirl over whether Moscow could extend credit lines to bail out the Greek prime minister’s embattled economy.

Jun 18 12:44

Detroit’s “water affordability” plan guarantees profits to wealthy bondholders

Detroit officials have resumed their brutal policy of shutting water off to the city’s poorest and most vulnerable residents. At least 1,000 households have been shut off as of May 26 with at least 25,000 residences—or one in three city households–being targeted for possible shutoff this summer. This is in addition to more than 33,000 households that had water service terminated during the 2014 Detroit bankruptcy.

Jun 18 12:42

Starvation Is The Price Greeks Will Pay For Remaining In The EU

Syriza, the new Greek government that intended to rescue Greece from austerity, has come a cropper. The government relied on the good will of its EU “partners,” only to find that its “partners” had no good will. The Greek government did not understand that the only concern was the bottom line, or profits, of those who held the Greek debt.

Jun 18 12:37

Banks and other lenders continued to aggressively repossess central Ohio homes

Banks and government agencies took back 801 central Ohio homes during the month, more than double the April number and almost four times the number repossessed a year earlier, a

Jun 18 12:09

The Economic Depression In Greece Deepens As Tsipras Prepares To Deliver ‘The Great No’

As Greece plunges even deeper into economic chaos, Greek Prime Minister Alexis Tsipras says that his government is prepared to respond to the demands of the EU and the IMF with “the great no” and that his party will accept responsibility for whatever consequences follow. Despite years of intervention from the rest of Europe, Greece is a bigger economic mess today than ever.

Jun 18 11:13

About That Surge In Building Permits

Jun 18 10:33

Breaking News - Senate Panel Doubles Jewish Homeland Security Appropriations' to $25M

Virtually all of the funds allocated to the Nonprofit Security Grant Program go to Jewish organizations

Jun 18 10:30

House approves fast-track 218-208, sending bill to Senate

The House on Thursday took the first step toward resuscitating the White House’s trade agenda by passing legislation granting President Obama fast-track authority.

The bill now goes to the Senate, where the White House and GOP leaders are seeking to strike a deal with pro-trade Democrats.

Webmaster's Commentary: 

While the media is being distracted with the church shooting, the House changed the rules of Congress to vote through Fast Track without needing to pass the linked TAA.

Jun 18 10:06

How the Vatican Bank is Justifying Opening Its Books to US Tax Authorities

The Vatican bank will automatically report information about American holders of its accounts to US tax authorities under an agreement signed on Wednesday that the American ambassador to the Holy See said was a “very significant step” to combating tax evasion, reports The Guardian. You guessed it, it's Pope Francis behind it.... Under the terms of Wednesday’s agreement, the Vatican will be party to the Foreign Account Tax Compliance Act in the US, which was passed in 2010 to target non-compliance with US tax obligations.

Jun 18 09:53

ISRAEL WINS ONE BATTLE … BUT NOT THE ‘WAR’

Israel won an important victory over the Boycott, Divestment and Sanctions Movement (BDS) when a boycott on the sale of Israeli products in a supermarket chain in Sweden has been cancelled.

The national supermarket chain COOP has 655 branches across Sweden. Israel, that was worried the boycott would spread from three local stores in the city of Varberg to all branches nationwide, launched an impressive media campaign to combat it.

Webmaster's Commentary: 

Next we will see COOP back off their decision not to sell glyphosate products!

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